MidwestOne Earnings Reports

MidWestOne Financial Group, Inc. reported net income of $15.1 million, or $0.73 per diluted common share, for the first quarter of 2025. Total revenue was $57.6 million, a decrease of $2.2 million from the fourth quarter of 2024, but an increase of $13.1 million from the first quarter of 2024. The company's return on average assets was 1.00%, and the net interest margin (tax equivalent) was 3.44%.

MidwestOne Financial Group, Inc. reported a strong fourth quarter with net income of $16.3 million, or $0.78 per diluted common share. The company's return on average assets reached 1.03%, driven by net interest margin expansion. Core deposits and noninterest bearing deposits increased, and asset quality metrics improved.

MidwestOne Financial Group reported a net loss of $95.7 million for Q3 2024, or $(6.05) per diluted common share, which included a $1.2 million fraud loss related to a single incident, but the adjusted earnings were $9.1 million, or $0.58 per diluted common share. The company completed a common equity capital raise, resulting in net proceeds of $118.6 million to facilitate a balance sheet repositioning, which led to $140.4 million of securities impairment.

MidwestOne Financial Group reported a solid quarter with the completion of the sale of their Florida banking operations and an increase in net interest margin. Net income was $15.8 million, or $1.00 per diluted common share, with revenue of $57.9 million.

MidwestOne Financial Group reported a net income of $3.3 million, or $0.21 per diluted common share, for the first quarter of 2024. Revenue was $44.5 million, including net interest income of $34.7 million and noninterest income of $9.8 million. The company completed the acquisition of Denver Bankshares, Inc. and experienced net interest margin expansion and adjusted loan growth.

MidwestOne Financial Group reported a net income of $2.7 million for Q4 2023. The company achieved annualized loan growth of 6.1% and saw an increase in deposits, excluding brokered deposits, of $31.4 million. Strategic initiatives and expense discipline are expected to improve financial performance.

MidwestOne Financial Group reported a net income of $9.1 million for Q3 2023, an increase from the previous quarter. The company focused on strategic plan execution, including the sale of Florida operations and acquisition of Denver Bankshares. Loan and deposit growth provided flexibility, while asset quality metrics were affected by one senior living credit.

MidwestOne Financial Group, Inc. reported a net income of $7.6 million for the second quarter of 2023, a significant increase compared to the linked quarter. The company experienced annualized loan growth of 10.6% and made progress on its strategic plan.

MidwestOne Financial Group reported a net income of $1.4 million, or $0.09 per diluted common share, for Q1 2023. The company executed the sale of $231 million in book value of available for sale debt securities as part of a balance sheet repositioning, resulting in a pre-tax loss of $13.2 million. Annualized loan growth was 8.6%.

MidwestOne Financial Group, Inc. reported net income for the fourth quarter of 2022 of $16.0 million, or $1.02 per diluted common share. Revenue was $54.5 million, which included $2.5 million of additional bargain purchase gain stemming from the Iowa First Bancshares Corp. (IOFB) acquisition. Annualized loan growth was 10.36%.

MidwestOne Financial Group, Inc. reported net income for the third quarter of 2022 of $18.3 million, or $1.17 per diluted common share. The company saw improvements in net interest margin, annualized core loan growth, nonperforming assets ratio, net charge-off ratio, and efficiency ratio.

MidwestOne Financial Group, Inc. reported net income for the second quarter of 2022 of $12.6 million, or $0.80 per diluted common share. The company completed the acquisition of Iowa First Bancshares Corp, experienced annualized adjusted core loan growth, and improved asset quality.

MidwestOne Financial Group reported a net income of $13.9 million, or $0.88 per diluted common share, for the first quarter of 2022. Core commercial annualized loan growth was 5.4% to $2.71 billion. The efficiency ratio was 60.46%.

MidwestOne Financial Group, Inc. reported a solid fourth quarter of 2021, with net income of $14.3 million, or $0.91 per diluted common share. The company saw good ex-PPP commercial loan growth and improvements in nonperforming loans and nonperforming assets ratios.

MidwestOne Financial Group, Inc. reported a net income of $16.3 million, or $1.03 per diluted common share, for the third quarter of 2021. This compares to a net income of $17.3 million for the linked quarter. The company also announced an agreement to acquire Iowa First Bancshares Corp.

MidwestOne Financial Group, Inc. reported net income of $17.3 million, or $1.08 per diluted common share, for the second quarter of 2021. The company saw growth in commercial loans excluding PPP loans, an increase in average total deposits, and a decrease in the cost of average total deposits. The efficiency ratio was 54.83%, and nonperforming assets declined.

MidwestOne Financial Group, Inc. reported a record net income of $21.6 million for the first quarter of 2021, driven by increased total revenue, a credit loss benefit, and decreased noninterest expense. The company's efficiency ratio improved, and average total interest earning assets and deposits grew.

MidwestOne Financial Group reported a net income of $16.7 million for Q4 2020, which translates to $1.04 per diluted common share. Revenue, net of interest expense, increased by 5% to $49.7 million. The company benefited from a decrease in credit loss expense and noninterest expense.

MidwestOne Financial Group reported a net loss of $19.8 million for Q3 2020, driven by a $31.5 million goodwill write-down. Excluding the write-down, core earnings were $11.7 million. Mortgage banking revenues increased noninterest income by 16%.

MidwestOne Financial Group, Inc. reported a net income of $11.7 million for the second quarter of 2020, or $0.73 per diluted common share. This is compared to a net loss of $2.0 million, or $0.12 per diluted common share, for the first quarter of 2020. The quarterly return on average equity was 9.21%, and the return on average tangible equity was 13.50%.

MidwestOne Financial Group, Inc. reported a net loss for the first quarter of 2020 of $2.0 million, or $0.12 per diluted common share. The quarter was dominated by the activity to prepare and deal with the effects of the COVID-19 pandemic. Credit loss expense for the first quarter was $21.7 million, which reduced diluted earnings per common share by approximately $0.99.

MidwestOne Financial Group, Inc. reported net income for the fourth quarter of 2019 of $13.4 million, or $0.83 per diluted common share. It was the best full year earnings in the company's history, driven by stable core net interest margin and good expense control.